Hurm, well the liquid rubber Pond Coat is $693 for 15 gallons + shipping = $818. That is more than Pond Armor costs. I don't want to use Pond Armor though. That's why I was going with Blue Max. I know a lot of people including Rich and John have had success with it, but after the nightmares Monster Fish Rescue had getting a good seal, I decided against it.
15 gallons of Blue Max is $450 plus shipping by comparison and they recommend about 10 gallons for the coverage I need, so not really apples to apples and in actually less than half the cost of Pond Coat.
There's argument for each I guess. Going to think on the whole coating thing. I'm still not completely discounting the liner idea based on my friend's success with it.